Post modded (likely for my COVID comments), so here’s the portion that was specifically re NRZ:
It’s quite simple now. Assuming timelines from the July presentation don’t blow out any further, the next 2 funding mechanisms will definitively satisfy holders, or the naysayers.
Pre-FID funding should be this side of Christmas. If not, I can’t see how another low CR isn’t on the cards with their cash burn.
In an ideal world, it’ll be debt/con notes … if the latter, they’d do well to then use the actual project funding(debt ideally) to pay the balance off + any interest when the time comes.
If they avoid major dilution, shareholders will have a lot to celebrate over the next couple of months (assuming timelines don’t blow out). We could comfortably have a SP well over $1 ($1B + MC).
However, the points JL has made regarding dilution, if they go that route….. then much of the potential upside becomes non-existent and I’d suspect you’ll happy to see 30c odd. Although unlikely IMO, there is still the possibility that the SOI could go WELL above 3B.
Let’s hope our very well paid management team can finally create some shareholder value … because it’s been a long few years for many.
Have a great weekend all !
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